Solana (SOL) fell 4.5%, marking its second consecutive losing day and touching the $130.50 level. Big crypto players and Wall Street investors have taken advantage of the decline by adding millions of dollars’ worth of the asset to their portfolios.
Today, the blockchain-based transaction tracker Onchain Lens shared a post on X noting that a crypto whale with the wallet address “CCGYY” withdrew a substantial 101,365 SOL worth $13.89 million from the Kraken exchange.
The whale’s SOL holdings have now grown to 628,564 SOL, worth $84.13 million. The post also highlighted that this whale has held 519,217 SOL in the wallet and 109,348 SOL in staking, highlighting the whale’s long-term positive outlook for the asset.
Asset withdrawals are typically seen as a bullish signal, as they suggest that whales are moving assets from exchanges to wallets, indicating accumulation and have the potential to add buying pressure on the asset.
Whales are the ones who own a massive portion of any specific assets, whether it’s Solana (SOL), Bitcoin (BTC), or Ethereum (ETH), and they have the power to influence the market with their transactions.
In crypto, whale activity often acts as an indicator that signals an asset’s upcoming trend. Because of the strong influence, many smart traders and long-term holders follow their footsteps, aiming to secure early entries and earn strong returns.
Sometimes, during market downturns, bullish activity can suggest a market bottom. Alternatively, when the market is down and dumping can cause further sell-offs and amplify the downside move.
Also Read: ETH Bears Eye $2,750 as This Pattern Outweighs Mixed On-Chain Clues!
Wall Street Pours $4.85 Million in Spot Solana ETFs
Besides whale activity, Wall Street investors have also shown their interest in SOL, as it recorded by an on-chain analytics platform SoSoValue. According to the latest data, on December 10, 2025, U.S. Solana Spot Exchange-Traded Funds (ETFs) recorded a heavy inflow of $4.85 million.
Data further highlight that the inflow was led by Bitwise’s BSOL, which recorded $3.68 million, followed by Grayscale’s GSOL, Fidelity’s FSOL, and VanEck’s VSOL, which saw inflows of $303.33K, $411.39K, and $454.21K, respectively, on the same day.
ETF inflows show that fresh capital is moving into the underlying asset, and they also indicate growing demand for that asset even during a market downturn.
Conclusion
Looking at the current market sentiment and SOL’s price action, it appears that whales and Wall Street investors have been buying the dip, which may suggest the bottoming of the prices. However, in crypto, whale activity can sometimes trap investors by attracting them into the market during uncertain conditions. Make sure to follow the trend with research if you do not have a long-term view.
